Pet Shop Boys leave Parlophone

Neil Tennant and Chris Lowe met in an electronics shop in London 31 years ago

The Pet Shop Boys have parted company with their record label Parlophone after almost three decades.

The veteran chart-toppers, whose hits include West End Girls and It's A Sin, will release a new album through Kobalt Label Services in June.

The company offers the functions of a record label but allows artists to keep control and ownership of their music.

The duo said it was a "very exciting point in our careers". Parlophone was recently sold by EMI to Warner Music.

Bandmates Neil Tennant and Chris Lowe have sold more than 50 million records since releasing their first single on Parlophone 28 years ago.

"We'd like to thank everyone we've worked with at Parlophone over the last 28 years both in the UK and abroad," said Tennant and Lowe in a joint statement.

"When we signed to the label in 1985 we had no idea how long and successful a relationship we were embarking on.

"However it is also exciting now to commence a new phase working with a new team in a new business structure."

'Incredible music'

Parlophone's Miles Leonard said the record company was "proud" to have worked with the group. "We have been fortunate enough to have been partners in one of the most successful careers in pop culture," he said.

"Neil and Chris to this day influence so many with their incredible songwriting and music."

Nick Cave and the Bad Seeds are also signed to Kobalt Music Services

"We wish them every success in the future and look forward to continuing our relationship with them across their entire and enviable catalogue."

Parlophone, previously one of EMI's most valuable assets, was separated from that company under a deal with regulators when EMI was sold to Universal Music last year.

The company, home to Blur and Pink Floyd, has seen the departure of several artists in recent years, including Radiohead and Sir Paul McCartney.

Kobalt Label Services is a new arm of the Kobalt Music Group, which has become a significant player in music publishing over the past 10 years.

The company issued its first international album last month with Push the Sky Away, the latest release by Nick Cave and the Bad Seeds.